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FEDERAL RESERVE NOTE: Paper currency issued by each of the 12 Federal Reserve District Banks in denominations of $1, $5, $10, $20, $50, $100. Unlike paper currency of the past that was issued by the U. S. Treasury, these notes are backed by the Federal Reserve System. Specifically, each of the 12 Fed District Banks supplies notes within it's district. Each district bank puts it's own personal number and stamp (literally to the left of the portrait) on the notes it issues. For example, the number for the Boston District Bank is 1, while San Francisco Bank is 12.
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LAISSEZ FAIRE The notion that government should not intervene into production, consumption, and exchange activities and that the private sector (households and businesses) should be free to make allocation decisions. Laissez faire is a French term that roughly translates into "allow to act." It has been the rallying cry for many people (primarily business leaders) who oppose government intervention, regulation, or even taxation since it was popularized in the late 1700s by Adam Smith in The Wealth of Nations.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for the happiest person in the room.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Every generation of Americans needs to know that freedom exists not in doing what we like, but in having the right to do what we ought. " -- Pope John Paul II
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GLS
Generalized Least Squares
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